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Living Wage — Question

Part of the debate – in the House of Lords at 3:36 pm on 6th November 2013.

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Photo of Viscount Younger of Leckie Viscount Younger of Leckie The Parliamentary Under-Secretary of State for Business, Innovation and Skills 3:36 pm, 6th November 2013

We see that the right way forward—the only way forward—to achieve sustainable increases in living standards is through focusing on economic growth and employment. This is exactly what the Government are doing, with a particular focus on SMEs. As we know, 99% of all businesses are SMEs, with 14.4 million employees. With changes to the tax allowance, low-wage workers who have been squeezed through inflation and low earnings growth can take home much more of their income. We have taken 25 million people out of income tax; they have had a cut.